OTTAWA—Bank of Canada Governor Mark Carney is playing down the need to boost borrowing costs at home as the world waits to see if European leaders can halt the mounting financial chaos on the continent. In a significant shift, the central bank kept its trend-setting interest rate steady at 1 per cent Tuesday but eased away from warnings that higher interest rates were likely in the near future.
TORONTO — Canadian housing market conditions have cooled slightly, with prices down nearly 2% in the first-quarter, but the country continues to outperform other developed nations, according to a new Scotiabank real estate report.
OTTAWA — Canada’s economy will underperform even moderate expectations in the next two years, TD Bank economists predicted Wednesday, adding that recent tightening of mortgage and credit rules is contributing to the slowdown.
